Bahrain-headquartered Arab Banking Corporation (ABC Bank) has secured a three-year $750m syndicated term loan.

It is the bank’s first syndicated loan raised since 2007.

The facility was launched into the market in early July at $500m, but was oversubscribed raising more than $800m before being scaled back. The official signing of the deal took place on 14 August.

A total of 17 international and regional banks signed up to the facility, which carries a margin of 120 basis points over the London interbank offering rate (Libor).

The initial mandated lead arrangers and bookrunners on the deal are HSBC Middle East, National Bank of Abu Dhabi, French bank Natixis and Japanese bank Sumitomo Mitsui Banking Corporation (SMBC).